voestalpine continues to support group profitability with its focus on high-tech products and its broad market range. In the first half of the 2024/25 financial year, revenue was recorded at EUR 8 billion, slightly decreased compared to the previous year.
EBITDA totaled 718 million euros despite one-off negative effects. This was a decrease compared to the EBITDA of 903 million euros recorded in the same period of the previous year.
The company's equity remained stable at EUR 7.4 billion, the gearing ratio stood at 27.5%, compared with 22.0% as of 31 March 2024. voestalpine changed its earnings forecast due to the decline in the automotive sector in the second quarter and the economic recession in Europe. The company expects EBITDA for the business year 2024/25 to be around 1.4 billion euros. The Greentec steel projects proceed according to plan.
Railway infrastructure and aviation both performed strongly in the first half of the year, however, demand for voestalpine's state-of-the-art high bay warehousing systems made from the most advanced steel profiles remained strong. In the energy sector, demand decreased, whereas the construction and mechanical engineering industries remained at a low level.
Herbert Eibensteiner, CEO of voestalpine AG, stated: “In this extremely difficult environment for European steel companies, voestalpine once again demonstrates its flexibility and adaptability. In business segments facing structural changes, we responded immediately with specific measures, such as reorganizing our German Automotive Components locations. At the same time, we are implementing numerous international growth projects in railway infrastructure, storage systems, and high-tech special tubes and sections. Our broad positioning across industries and regions stabilizes the Group’s results and validates the resilience of our corporate strategy.”
voestalpine entered into long-term agreements with two major truck manufacturers in North America in the first half of 2024/25, investing EUR 70 million in its plant in Indiana, USA, and creating 110 new job opportunities. Additionally, the company signed cooperation agreements with the Danish JYSK and the South Korean Nexen Tire.
EBIT decreased by 33% y/y to EUR 338 million, profit before tax by 41.9% to EUR 249 million, and profit after tax by 43% to EUR 183 million. As of 30 September 2024, the net debt increased to EUR 2 billion, while equity decreased by 3.9% to EUR 7.4 billion. The debt ratio increased to 27.5%, while the number of employees increased by 1% y/y to 51,700.
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